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Pan African Visions

South Africa unlikely to sort out its debt in four years – Fitch.

June 26, 2020

We view the government’s forecast of gross loan debt rising to 81.8% of GDP in FY21, much higher than the 65.6% in the original budget, as realistic. However, we believe its expectation that debt will peak at 87.4% in FY24 is optimistic. This would require sufficient fiscal consolidation to achieve a primary budget surplus in that year, which would be South Africa’s first since 2008, towards the end of the commodity boom.

The post South Africa unlikely to sort out its debt in four years – Fitch. appeared first on CNBC Africa.

CNBC AFRICA

Source : African Media Agency (AMA)

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